BEIJING, Feb. 11, 2020 /PRNewswire/ -- Luokung Technology
Corp. (NASDAQ: LKCO) ("Luokung" or the "Company"), one of the
global leading spatial-temporal big-data processing technology
companies, a leading interactive location-based services company in
China, announced today that Ford
Motor Corporation (NYSE: F) has selected Luokung's subsidiary
eMapgo Technologies (Beijing) Co.,
Ltd. ("EMG") as the only provider for Ford China so far to utilize
its proprietary autonomous driving HD map service capabilities to
be used in Ford vehicles sold in the Chinese market. EMG will
receive a fee for each car sold using its technology and
service.
EMG will support Ford's Connected Blue Zone (hereinafter
referred to as CBZ) autonomous driving project. The CBZ is the
first autonomous driving commercial project of Ford in China. It is SAE-Level 2.5+, allowing
autonomous driving on the highway. The project is expected to be
launched in 2021. EMG will not only provide HD seed map for CBZ,
but also provide online incremental data updates through OTA
technology, providing real-time mapping technology and strong
support for the Adaptive Cruise Control (ACC) system, CBZ Blue Line
retention system, driver attention retention system, etc. EMG's
technology enhances the driving experience by allowing drivers to
operate vehicles autonomously by providing data on the optimal
routes for a drive to reach his destination.
"We are pleased that a global leading automaker in autonomous
driving has selected our technology and service as a key component
of the autonomous driving experience," said by Mr. Hongbin Lu, the CEO of EMG. "The market in
China is enormous and we are
excited to work with Ford as it positions itself to capitalize as
an early entrant in this rapidly growing market."
About eMapgo Technologies (Beijing) Co., Ltd.
eMapgo Technologies (Beijing)
Co., Ltd. is one of the leading navigation electronic map service
providers in China and has
obtained Class-A qualification certificates of navigable surveying
and mapping, internet map service and geographic information system
engineering. It has also obtained quality management system
certificates of ISO9001 and ISO/TS16949 and CMMI3. Its core brand
is "eMapgo". EMG provides users with navigation electronic maps,
ADAS maps and HD maps of China, as
well as geographic location information service through its own map
service platform. Its map database has covered mainland
China, Hong Kong and Macao with over 9-million-kilometer road
networks and 80 million POIs. EMG is a top three mapping company in
automotive in-dash navigation market of China.
Business Risks and Forward-Looking Statements
This news release contains forward-looking statements within the
meaning of Section 21E of the Securities Exchange Act of 1934, as
amended, and as defined in the U.S. Private Securities Litigation
Reform Act of 1995. These forward-looking statements can be
identified by terminology such as "will", "expects", "anticipates",
"future", "intends", "plans", "believes", "estimates", "target",
"going forward", "outlook" and similar statements. Such statements
are based upon management's current expectations and current market
and operating conditions and relate to events that involve known or
unknown risks, uncertainties and other factors, all of which are
difficult to predict and many of which are beyond the Company's
control, which may cause the Company's actual results, performance
or achievements to differ materially from those in the
forward-looking statements. Further information regarding these and
other risks, uncertainties or factors is included in the Company's
filings with the U.S. Securities and Exchange Commission. The
Company does not undertake any obligation to update any
forward-looking statement as a result of new information, future
events or otherwise, except as required under law.
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SOURCE Luokung Technology Corp.